Insurance Assignment definition

Insurance Assignment each collateral assignment of insurance pursuant to which an Obligor assigns to Agent, for the benefit of Secured Parties, such Obligor’s rights under key-man life, business interruption or other insurance policies as Agent deems appropriate, as security for the Obligations.

Insurance Assignment means, in relation to a Ship, an assignment of the Insurances of that Ship, in Agreed Form;

Insurance Assignment each collateral assignment of insurance pursuant to which a Loan Party assigns to Agent such Loan Party’s rights under any insurance policies as Agent deems appropriate, as security for the Obligations.

Examples of Insurance Assignment in a sentence

• The Insurance Assignment Agreement shall transfer claims and rights set forth therein as Debtors may have, subject to any and all Asbestos Insurer Coverage Defenses.

• On the Effective Date, the Debtors will also deliver the Insurance Assignment Agreement attached to the Plan as Exhibit "C" thereto, and such agreement will be valid, binding and enforceable.

• Proceeds of the Insurances for partial losses shall be applied in accordance with the Construction Risks Insurance Assignment or the Insurance Assignment (as the case may be) and/or the loss payable clause(s) endorsed on the Insurances in the form approved by the Agent and in the case of a Total Loss of the Vessel in accordance with Clause 4.5 and Clause 12.1.

• The right to receive the proceeds of the Life Insurance Policy shall be assigned to the Lender by the Life Insurance Assignment.

• On the Effective Date, the Debtors shall deliver the Insurance Assignment Agreement attached hereto as Exhibit "C." Such agreement shall be valid, binding and enforceable.

More Definitions of Insurance Assignment

Insurance Assignment means the valid and effective first legal assignment of the Insurances (together with the notice thereof), to be executed by the Borrower in respect of the Vessel in favour of the Trustee and the Hermes Loan Trustee, such assignment and notice to be in the form and on the terms and conditions required by the Agent, the Hermes Agent and the Hermes Loan Agent and agreed on the signing of the Original Loan Agreement and as specified in paragraph 33 of Schedule 4;

Insurance Assignment means, in relation to a Ship, a first priority assignment of the Insurances, in the form set out in Appendix F;

Insurance Assignment means the English law governed assignment of insurance dated the Effective Date by HB Peru SAC in favour of the Peruvian Collateral Agent.

Insurance Assignment means the valid and effective first legal assignment of the Insurances (together with the notice thereof), to be executed by the Borrower in respect of the Vessel in favour of the Trustee, such assignment and notice to be in the form and on the terms and conditions required by the Agent and the Hermes Agent and agreed on the signing hereof and as specified in paragraph 42 of Schedule 4;

Insurance Assignment means the first priority assignment of insurance made or to be made by (a) the Subsidiary Guarantor in favor of the Collateral Agent in respect of the Mortgaged Vessel and (b) the Company in favor of the Collateral Agent in respect of the Mortgaged Vessel, in each case substantially in the form of Exhibit I or otherwise reasonably satisfactory to the Administrative Agent.

Insurance Assignment means collectively the Required Priority assignments of insurance in favor of the Noteholder Collateral Agent given by the Company and the applicable Guarantor and the applicable Internal Charterer, if any, respecting all insurance covering the Vessels or their respective operations, substantially in the form attached hereto as Exhibits D-1 or D-2, as the same may be amended, restated, supplemented or modified from time to time.

Insurance Assignment means (x) the assignment and transfer to the Settlement Trust of (a) the Insurance Actions, (b) the Insurance Action Recoveries,(c) the Insurance Settlement Agreements, and (d) all other rights, claims, benefits, or Causes of Action of the Debtors, Related Non-Debtor Entities, Local Councils, or Contributing Chartered Organizations under or with respect to the Abuse Insurance Policies (but not the policies themselves), and (y) the Participating Chartered Organization Insurance Assignment. The Insurance Assignment does not include (i) any rights, claims, benefits, or Causes of Action under or with respect to any Non-Abuse Insurance Policies, including D&O Liability Insurance Policies or (ii) any Local Council Reserved Rights.